Among other things i would never use no homo if not when joking with friends because i know there are hypersensitive people where you have to watch every single letter before saying anything.
"Hey what you said was offensive for me even though its litteral meaning isn't and you didn't say it to offend me neither so stop using it because i am offended"
"Well guess who has a problem me or you?"
"No homo" is like a 100% perfect example of something having more than just a single literal meaning, whether you intend it to or not.
Are you stubborn enough that you automatically blame the problem on the other person being oversensitive and won't even entertain the thought of ridding a single phrase from your vocabulary that offends people and makes them uncomfortable?